What are the responsibilities and job description for the Actuarial Analyst position at USI Holdings Corporation?
General Description:
The Defined Benefits Actuarial Analyst performs analysis and calculations necessary to complete client pension projects for review by senior staff. He/she is involved in numerous client projects simultaneously and must manage their contribution to project time and budget effectively to ensure a correct and complete client deliverable. The Actuarial Analyst at this level is expected to complete the assigned duties independently with limited instruction.
Responsibilities:
- Attend scheduled training sessions over 12-18 month period to gain familiarity and competency to perform all responsibilities associated with the Actuarial Analyst role.
- Draft the actuarial valuation and maintain plan record keeping for assigned clients and finalize after actuarial review. Maintain turnaround time to meet the client's requirements and the department's timing standards.
- Draft the participant annual funding notice and actuarial AFTAP certification.
- Complete IRS Form 5500, along with appropriate schedules and attachments and deliver it in an appropriate timeframe to the client.
- Complete the Pension Benefit Guaranty Corporation (PBGC) Comprehensive Premium Form for determining premium payments to comply with PBGC regulations. This form should be completed in accordance with the Department's timing standards.
- Draft the ASC 715 Pension Expense Calculation and Disclosure Statement. Ensure timely delivery of this statement to assigned clients.
- Formulate and process benefit calculations and projected benefit estimates.
- Facilitate communication between the client and the actuary for assigned clients. Draft correspondence between USICG and the client.
- Familiarity with mortality and interest theory concepts.
- Complete special project assignments as requested by the client or actuary.
- Ability to work within various software applications to become efficient in completing client assignments.
- Foster and maintain a friendly and collaborative atmosphere within the department and company.
Knowledge, Skills and Abilities:
- Bachelor Degree in Mathematics, Actuarial Science, Computer Science or Finance.
- This is an entry level position. No prior experience is necessary, but any post-education pension actuarial experience is preferred.
- Completion of actuarial exams is not required.
- Functional in MS Office software (Word, Excel).
- Strong analytical and communication skills.
- Ability to multi-task and juggle priorities.
- Flexibility to work overtime to meet client demands.
- Team oriented.
Why USI?
USI Consulting Group (USICG) is an industry-leading, full-service retirement plan consulting and benefits administration firm that has been helping employers enable their workforce to successfully plan and invest for retirement for 50 years. USICG’s integrated team of highly skilled professionals provides specialized expertise in delivering independent, comprehensive guidance and innovative, flexible retirement plan solutions to meet the changing needs of employers and their employees. USICG is an affiliate of both USI Securities, Inc. (a broker-dealer, Member FINRA/SIPC) and USI Advisors, Inc. (a federally registered investment adviser) and a wholly owned subsidiary of USI Insurance Services (“USI”). To learn more, visit usicg.com or follow us on LinkedIn.
Unrivaled Resources and Support
What truly distinguishes USI as a premier insurance brokerage and consulting firm is the USI ONE Advantage®, a game-changing value proposition that delivers to clients a robust set of risk management and benefit solutions with bottom-line financial impact. USI ONE® represents Omni, Network, Enterprise—the three key elements that set USI apart from the competition. Through USI ONE, we develop strategic, timely, and effective risk management and benefit programs in terms that are easy to understand, and we demonstrate how the solutions can have a positive economic impact.
Industry-Leading Programs, Rewards, and Recognition
In addition to competitive pay, incentives, and benefits, USI recognizes associates through our Summit Awards program, rewarding excellence in those who build our brand each day. USI offers employee programs that recognize outstanding achievement and help our associates lead healthy, productive lives. We turn care into action with our award-winning wellness program, college scholarships for associates' children, and financial help in times of need.
Deep Community Engagement
We are committed to giving back to our local communities and supporting a culture of environmental sustainability. From sharing our time, talent, and resources to support local non-profit organizations, animal shelters, and environmental beautification and restoration projects – to partnering with eco-conscious vendors and taking steps to reduce our own environmental footprint – we’re working together as ONE to build a better future.
Committed to a Diverse and Inclusive Workplace
Our award-winning I’m With U diversity and inclusion program educates our associates to help them better understand and serve our clients, prospects, fellow team members, and local communities through curated education and training resources, employee support programs, and community outreach initiatives to build a more diverse, equitable, and inclusive culture.
Nationally Recognized as a Top Insurance Employer
- Recognized as one of Insurance Business America’s Top Insurance Employers eight consecutive years (2018-2025).
- Named to Business Insurance’s annual list of the Best Places to Work in Insurance six years in a row (2020-2025).
- Named to Fortune’s Best Workplaces in Financial Services & Insurance list for the last two years (2024-2025).
- Certified as a Great Place To Work two years in a row (2024-2025).
Visit our Awards and Accolades page for a complete list of our latest industry awards and recognitions!
USI is committed to providing a full-suite of competitive benefits for our growing population and its diverse needs. We offer a wide range of health, welfare and financial benefits including potential compensation incentives, medical, wellness, dental and vision, 401(k), flexible spending and health savings accounts, short and long-term disability, life insurance and other unique employer-sponsored and voluntary programs. USI also offers a generous paid time off policy, paid family leave benefit as well as paid holiday time.
Benefits:
Health Insurance, 401K Plan, Vacation & Paid Time OffSalary : $60,000 - $75,000